When it comes to real estate, it goes without saying that the 1st arrondissement is in high demand for both its residential and service-sector properties, especially among self-employed professionals eager to add such an eminent address to their letterheads. First and foremost lawyers, who can still be found here in droves despite the relocation of the Paris law courts from the Île de la Cité to the 17th arrondissement in 2019. Foreign clients, from the US and Asia in particular, are traditionally fond of the most glamorous streets found in the west half of the arrondissement around Place Vendôme, Rue Saint-Honoré and Rue Cambon, all the way to Palais-Royal and Rue de Valois. Rue de Rivoli, however, is somewhat shunned for its tourist draw, even though car traffic has been drastically reduced in favour of soft modes of transport. The east half of the arrondissement, the Les Halles district, should be taken on more of a street-by-street basis, as some of its roads, such as Rue Saint-Denis, have not yet shaken the bad rap (today largely unfounded) from their lower-class and sometimes dangerous past after nightfall. In terms of prices, they range from over €18,000 per square metre on Place des Victoires and Rue du Mont-Thabor, and less than €11,000 per sq.m on Rue Berger or Grande Truanderie.
Extraordinary transactions
The property market in the 1st arrondissement also includes some exceptional locations, such as Quai des Orfèvres, on the south bank of Île de la Cité, where prices per sq.m are around €22,000 in 2024, the delectable Place Dauphine, also on Île de la Cité, at around €20,000 per sq.m, or the elegant Place des Victoires, around €18,000 per sq.m. Generally speaking, supply here is sufficient to meet all demands, whether for a family apartment, a luxury pied-à-terre, a studio apartment or maid’s room, or, on the other end of the scale, a property for entertaining, a private mansion for example. As is often the case in Paris, some transactions for extraordinary properties can go for prices well above the average, especially if they’re on an upper floor with a direct view of Notre-Dame de Paris. On the residential front, the 1st arrondissement has the advantage of excellent public transport connections (bus and metro), as well as a central position that makes walking and cycling real options too. Indeed, the arrondissement forms the perfect junction between the two banks of the Seine, and opens up access to all of Paris in record time. The other big plus is the Jardin des Tuileries, whose popularity has rocketed since the installation of the Paris 2024 Olympic and Paralympic cauldron!
Ideally located in the heart of the city, the 1st arrondissement is perfect for a prestigious Parisian address. Discover the nearby 2nd, 4th, 8th, 9th, 16th, and 17th arrondissement, or explore the full luxury market of the Paris Rive Droite.
